Saratoga Investment (NYSE:SAR) Stock Passes Above 200-Day Moving Average - What's Next?

Shares of Saratoga Investment Corp (NYSE:SAR - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.38 and traded as high as $24.60. Saratoga Investment shares last traded at $24.59, with a volume of 70,225 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on SAR shares. Compass Point lowered Saratoga Investment from a "buy" rating to a "neutral" rating and lowered their target price for the company from $25.25 to $24.25 in a research note on Monday, June 9th. B. Riley began coverage on Saratoga Investment in a report on Tuesday, May 13th. They issued a "neutral" rating and a $23.50 price objective for the company. Finally, Wall Street Zen cut Saratoga Investment from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $24.25.

Saratoga Investment Trading Up 0.4%

The stock has a market capitalization of $377.70 million, a PE ratio of 12.05 and a beta of 0.68. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $24.25 and a 200-day moving average price of $24.38.

Saratoga Investment (NYSE:SAR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.21). The company had revenue of $31.30 million during the quarter, compared to the consensus estimate of $32.86 million. Saratoga Investment had a return on equity of 14.04% and a net margin of 18.87%. Sell-side analysts expect that Saratoga Investment Corp will post 3.93 earnings per share for the current year.

Saratoga Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.00 annualized dividend and a dividend yield of 12.20%. Saratoga Investment's dividend payout ratio (DPR) is 147.06%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. boosted its position in shares of Saratoga Investment by 10.8% during the fourth quarter. D.A. Davidson & CO. now owns 29,929 shares of the financial services provider's stock valued at $716,000 after buying an additional 2,929 shares during the period. Promus Capital LLC purchased a new stake in shares of Saratoga Investment during the 4th quarter valued at $30,000. Raymond James Financial Inc. purchased a new stake in shares of Saratoga Investment during the 4th quarter valued at $814,000. HighTower Advisors LLC purchased a new position in Saratoga Investment in the 4th quarter worth $266,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Saratoga Investment during the 4th quarter valued at about $285,000. Hedge funds and other institutional investors own 19.09% of the company's stock.

About Saratoga Investment

Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.

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